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Article: FHA Takes Flight: Once called the program of last resort, the government-insured product is now the program of choice for mortgage borrowers and originators.
- Article from:
- Mortgage Line
- Article date:
- May 13, 2008
- Author:
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It is no secret that the Federal Housing Administration loan program has enjoyed a rebirth since the start of the credit crisis. Yet experts are saying the FHA Secure program is not where most of the volume is coming from.
Among those new players to the game is E-Loan, Pleasanton, Calif., whose president Mark Lefanowicz said, Unfortunately, we are seeing an unprecedented number of homeowners being forced to foreclose on their homes because they cannot afford their newly adjusted mortgage interest rates.
For many, the flexible guidelines and competitive rates of these FHA mortgage loans will mean the difference between losing their homes and being able ...